Mainstreet Equity (TSE:MEQ) Issues Quarterly Earnings Results

Mainstreet Equity (TSE:MEQ) announced its earnings results on Wednesday. The company reported C$3.64 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$73.17 million during the quarter. Mainstreet Equity had a net margin of 66.27% and a return on equity of 10.42%.

Mainstreet Equity Trading Down 0.8%

Shares of Mainstreet Equity stock traded down C$1.40 during trading hours on Wednesday, reaching C$172.10. 6,819 shares of the company’s stock were exchanged, compared to its average volume of 9,055. Mainstreet Equity has a 52-week low of C$160.08 and a 52-week high of C$206.80. The firm has a market capitalization of C$1.60 billion, a price-to-earnings ratio of 8.54 and a beta of 0.79. The company has a fifty day moving average of C$171.44 and a 200-day moving average of C$175.33. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 97.72.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MEQ shares. Canadian Imperial Bank of Commerce set a C$210.00 price objective on Mainstreet Equity and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. ATB Cormark Capital Markets dropped their price target on Mainstreet Equity from C$245.00 to C$225.00 and set an “outperform” rating for the company in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$227.67.

Mainstreet Equity Company Profile

Mainstreet Equity Corp is a residential real estate company. It is focused on the acquisition, redevelopment, repositioning, and management of mid-market rental apartment buildings. The business specializes in multi-family residential housing operating in a single segment. Geographically it operates in Canadian provinces including British Columbia, Alberta, Saskatchewan and Manitoba. The company generates revenue from rental income and others.